London has been battered by 50mph winds that have felled trees and caused travel chaos. Powerful gusts swept across the capital as the Met Office issued a yellow "be aware" weather alert for most of the country.

Results optimism helps to perk up Promethean

The writing on the wall — or the whiteboard — was less doom-laden than usual for education technology specialist Promethean World today.

The interactive whiteboard maker said it expects 2013’s results to be ahead of expectations. The City welcomed the news and Promethean jumped 3.63p or 14.6%, to 28p.

Recent cost cutting has improved its situation, but the company is still miles away from its 200p a share 2010 float price. The small-cap listed group had a torrid few years as a squeeze on education budgets, particularly in the US, hit growth and it reached a record low of 15p in December 2012.

Today analysts reacted with relief and Investec said the company “has seemingly stabilised” but said “it will be some time before growth returns”. Investec viewed the group as a “special situation” and rated it a buy with a 30p price target.

The wider markets were boosted by news China’s central bank had injected extra credit into the system and the FTSE 100 picked up 3.89 points to 6840.62.

One of the top risers was Standard Chartered, run by chief executive Peter Sands, pictured. Speculation emerged that the bank could be the subject of takeover interest and it rose 35p to 1363.25p.

Engineer Rolls-Royce slipped 2p to 1246.5p amid reports — scotched by City sources — it is close to another bid for Finnish ship and power-plant engine maker Wartsila.

Confirmation that Melrose Industries and IMI will be returning around £1.2 billion to shareholders made the engineering stocks popular.

Melrose said it is returning about £600 million to shareholders from its cash from disposals — around 47p a share — and it lifted 1.5p to 313.3p.

IMI plans to return 200p a share — around £620 million.

On the mid-tier table, miner African Barrick Gold said it had exceeded 2013 production guidance and was 13.4p brighter at 214.6p.

After a flurry of investor interest in Petra Diamonds yesterday, today the company revealed it had dug up a 29.6-carat blue diamond from South Africa’s Cullinan mine. It was unmoved at 122.55p. Goldman Sachs scribblers said AIM-listed video search-engine group Blinkx’s recent share-price fall made it attractive. They liked its “technology edge” and rated it buy as it soared 10.25p to 182.75p.

Private-jet management group Hangar 8 has taken delivery of four more long-range aircraft and it flew up 5.5p to 252p. A strong production update by Green Dragon Gas helped it 25p higher to 280p.

PORTFOLIO

BUY

Petrofac

Snap up shares in Petrofac, Canaccord Genuity recommends. The broker says that since its nadir in the middle of last month, the oil services group has “started to recover” and is out performing its sector. Itadds that “the wider malaise of the European oil services sector should have only a limited impact on Petrofac, whose end markets are mostly distinct”. Canaccord gives a target price of 1500p for shares presently around 1264p.

SELL

Rentokil Initial

Dump shares in Rentokil, Peel Hunt urges. The broker reckons the pest control group is “still struggling to generate organic growth” and it has slashed its forecasts. It adds that “despite shares trading in line with the market and at a discount to the sector, we continue to see better balanced risk-reward opportunities elsewhere in the sector”. Peel Hunt raises its target price from 95p to 108p for shares which are, at present, around the 123p mark.

HOLD

TT Electronics

Hang on to shares in TT Electronics, SP Angel Research advises. Although the broker concedes that the order books at the electronics maker “remain in positive territory”, there is concern about moving sensing and control production from Germany to eastern Europe. It “ will have a greater impact” on this year’s profitability than expected before showing margin benefit next year. SP thinks shares — at 202p a pop — are fully valued and gives a target of 180p.